South Carolina

Capital Advisors Arranges $17.4M Loan for Two Retail Properties in South Carolina

by John Nelson December 18, 2014

BLUFFTON AND BEAUFORT, S.C. — Capital Advisors has arranged $17.4 million to refinance two retail properties in coastal South Carolina. The properties include Best Buy Center, a 95,041-square-foot retail center leased to Best Buy, Petco and Dollar Tree in Bluffton, and the Crossings at Beaufort, a 19,600-square-foot retail center leased to Jersey Mike’s Subs, Anytime Fitness and Wingstop in Beaufort. Matt Good of Capital Advisors’ Greenville, S.C., office arranged the non-recourse, 10-year loan with a fixed 4.625 percent interest rate and a 30-year amortization schedule. The loan was arranged through Cantor Fitzgerald, a CMBS lender, on behalf of the borrower, BC 170 LLC.

December 18, 2014

Loans South Carolina Southeast

Grandbridge Closes $27.4M Loan for Multifamily Adaptive Reuse Project in Spartanburg

by John Nelson December 16, 2014

SPARTANBURG, S.C. — Grandbridge Real Estate Capital has closed a $27.4 million loan for the conversion of a historic textile mill in Spartanburg into Drayton Mills Loft Apartments. Bill Mattice and Phillip Cox of Grandbridge originated the 40-year loan. Tim Duncan led Grandbridge’s FHA/HUD team to utilize federal historic tax credits and South Carolina historic mill tax credits in conjunction with Grandbridge’s HUD 221(d)(4) construction to perm product. Drayton Mills Loft Apartments is a partnership between Pacolet Milliken Enterprises and TMS Development. Originally built in 1902, the repurposed property will house 279 apartment units and feature two historic water towers on the site. The property is located roughly one mile from downtown Spartanburg.

December 16, 2014

Retail South Carolina Southeast

Phillips Edison-ARC Buys The Fresh Market Commons in Pawleys Island, S.C.

by John Nelson December 5, 2014

PAWLEYS ISLAND, S.C. — Phillips Edison-ARC Shopping Center REIT Inc. has acquired The Fresh Market Commons in Pawleys Island, located roughly 23 miles south of Myrtle Beach. The 32,594-square-foot shopping center is located at 11045 Ocean Highway. The property’s tenant roster includes The Fresh Market, Chico’s, Litchfield Books and Pawleys Island Swimwear.

December 5, 2014

South Carolina Southeast

Landmark Builders to Renovate Historic Nickelodeon Theatre in Columbia

by John Nelson December 4, 2014

COLUMBIA, S.C. — Landmark Builders has been named the general contractor for Phase II of the historic Nickelodeon Theatre on Main Street in Columbia. The 9,700-square-foot renovation project will include renovations to the second floor movie theater, the renovation of existing office space on the second floor and the addition of an elevator. Landmark’s Thomas Brantley will serve as the project manager, and Terry Terranga will serve as the superintendent. The theater is scheduled for a first quarter 2015 completion, in time for the 2015 Indie Grits Film Festival. The design team includes construction manager LCK Construction Services and architect 1X1 Design.

December 4, 2014

Multifamily South Carolina Southeast

MHA Brokers Sale of Two Apartment Communities in the Carolinas Totaling $20.2M

by John Nelson December 1, 2014

LITTLE RIVER, S.C. AND WINSTON, SALEM, N.C. — Multi Housing Advisors (MHA) has brokered the sale of two apartment communities in North and South Carolina totaling $20.2 million. The 168-unit Summer Chase in Little River sold for $11.1 million. Hudson Capital Investments LLC and Apex One purchased the community from Hemrick Properties LLC. The 168-unit Hawk Ridge in Winston-Salem sold for $9.1 million. Peak Capital purchased Hawk Ridge from Spyglass Capital Partners. Marc Robinson, Jordan McCarley and Watson Bryant of MHA’s Charlotte office represented the sellers in the transactions.

December 1, 2014

Office South Carolina Southeast

Accesso Partners Buys Class A Office Building in Remount Business Park

by John Nelson November 6, 2014

NORTH CHARLESTON, S.C. — Accesso Partners LLC has purchased Remount II, a Class A, 105,147-square-foot office building in North Charleston. The property is located at 1141 Remount Road in the Remount Business Park. The sales price was undisclosed. The 65-acre Remount Business Park was co-developed by Remount Venture, Venture One Real Estate Co. and Chicago-based Clayco Corp. Remount II was 92 percent leased at the time of sale to tenants such as SAIC International, Booz Allen Hamilton, CACI, Simplex Grinnell/TYCO and ManTech. HFF’s debt placement team led by senior managing director Susan Hill secured a senior loan through JP Morgan Securities Inc. Paul Gaines of Accesso Partners will take over as asset manager for Remount I and II, and Accesso Services will assume property management services. Glenn Goodwin and Bart Langlois of Landmark Enterprises in Mt. Pleasant, S.C. remain leasing brokers for Remount II.

November 6, 2014

Retail South Carolina Southeast

HLC Equity Sells Walmart Supercenter in Anderson, S.C.

by John Nelson October 28, 2014

ANDERSON, S.C. — HLC Equity has sold a 192,000-square-foot Walmart Supercenter located at 3812 Liberty Highway in Anderson. Wal-Mart Stores Inc. currently has 13.7 years remaining on its triple-net lease. The property is part of a 330,000-square-foot power retail center that includes a Sam’s Club and a 5,000-square-foot strip center. CBRE represented HLC Equity in the transaction.

October 28, 2014

Mixed-Use South Carolina Southeast

Centennial American Properties Partners with TCC for Greenville Mixed-Use Development

by John Nelson October 27, 2014

GREENVILLE, S.C. — Trammell Crow Co. (TCC) has named Greenville-based Centennial American Properties as its local partner in the redevelopment of the Greenville News building in downtown Greensville. The two companies will develop a mixed-use project that could possibly include an upscale hotel, retail and restaurant space, dine-in movie theater, office building, multifamily residences, public plazas and pedestrian walkways, a parking garage and other uses that would fit within the upscale nature of the project. TCC is under contract with Gannett Publishing to purchase the Greenville News building, which is located on Main Street. Jackson Hughes Jr. of Hughes Commercial Properties is handling retail leasing for the development, and CBRE is handling office leasing. Wakefield Beasley & Associates is designing the project.

October 27, 2014

South Carolina Southeast

McMillan Pazdan Smith Completes $8.8M Football Complex at Furman University

by John Nelson October 27, 2014

GREENVILLE, S.C. — McMillan Pazdan Smith has completed construction on Furman University’s $8.8 million Pearce-Horton Football Complex. The 44,000-square-foot facility is located adjacent to the existing stadium and features a locker room, player’s lounge area, coaches’ offices, position/team meeting rooms, sports medicine/athletic training suite and a team equipment/laundry room. The complex also features a press box and private suite/club level with catering amenities.

October 27, 2014

Healthcare South Carolina Southeast

Bull Realty Brokers $12M Sale of Medical Office Building in Fort Mill

by John Nelson October 23, 2014

FORT MILL, S.C. — Atlanta-based Bull Realty has brokered the $12 million sale of Carolina Commons Medical Center, a 58,195-square-foot medical office building in Fort Mill. Paul Zeman of Bull Realty’s national healthcare capital markets group represented the seller, Charlotte-based RED Partners, in the transaction. The buyer was American Healthcare Investors. The primary tenant of Carolina Commons is Novant Health.

October 23, 2014

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